The report "Robotic Process Automation Market
by Process (Automated solution, Decision Support & Management
Solution, and Interaction Solution), Operation (Rule Based and Knowledge
Based), Type (Tools and Services), Industry, and Geography - Global
Forecast to 2025" The robotic process automation (RPA) market
is expected to reach USD 5.9 billion by 2025, at a CAGR of 32.6% between
2019 and 2025.
Browse 69 market data Tables and 66 Figures spread through 146 Pages and in-depth TOC on "Robotic Process Automation Market"
The
growth of this RPA market is mainly driven by the ease in business
processes with the installation of robotic process automation; and
convergence of robotic process automation with traditional business
processes. Moreover, integration of new technologies such as artificial
intelligence (AI), and cognitive systems with robotic process
automation; and high demand of robotic process automation (RPA) in
logistic industry are few major opportunities for robotic process
automation market
Robotic process
automation market for healthcare and pharmaceuticals will likely to grow
at the highest CAGR during forecast period
The
robotic process automation market for the healthcare and
pharmaceuticals industry is expected to grow at the highest CAGR during
forecast period. The healthcare and pharmaceuticals industry is highly
information-dependent, as it involves medical records of patients,
credentials of patients, information on claims processing, revenue cycle
management, etc. In this regard, robotic process automation not only
helps reduce operational costs but also ensures greater accuracy. The
interactive solutions offered by robotic process automationhelp
efficiently manage data, reduce medical transportation costs, lower
appointment scheduling errors, and so on.
Robotic process automation tools expected to hold the largest market size of the overall robotic process automation market
Robotic
process automation tools held the largest market size in 2018 owing to
its capability of eliminating repeatable and predictable human
interactions with business applications by mimicking the way people
interact with applications through a user interface and also by
following simple rules to make decisions. Tool-based lifecycle
management can be divided into requirement definition, initial design,
application development, testing, deployment, and release and
maintenance. It also involves tracking and documenting changes
throughout the process of the application.
North America is expected to dominate the robotic process automation market during forecast year
The
robotic process automation market for North America held the largest
market size in 2018 and is expected to dominate the market during
forecasted period. In the US, BFSI has been leveraging robotics process
automation to improve business processes since 2010. Due to the high
degree of flexibility and scalability of the solution, as well as
greater data processing and workflow management capabilities, there is
widespread deployment of robotic process automation in the BFSI space.
The growth of robotic process automation in Canada is driven by the
ramp-up of the banking and financial industry. Human resource
outsourcing, business process outsourcing, and contact center
outsourcing have seen tremendous growth in Canada in recent times. The
growth of the RPA market in Mexico is driven by the booming
manufacturing industry. New factories and manufacturing units are being
built in Mexico, requiring proper supply chain management to be
implemented to reduce costs. Inventory management, purchase order,
stocking goods, and economic order quantity management require automated
processes—backed by software bots.
Benefits of Robotic Process Automation (RPA) in various industries
The
RPA market report profiles the most promising players in the RPA
market. The competitive landscape of the market presents an interesting
picture of strategies adopted by a large number of players. Nice Systems
Ltd. (Israel), Automation Anywhere (US), Blue Prism Group Plc (UK),
Celaton Ltd. (UK), IPSoft, Inc. (US), Pegasystems Inc. (US), Redwood
Software (US), UiPath SRL (UK), Verint Systems Inc. (US), and Xerox
Corporation (US) are few dominant players in the robotic process
automation market.
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